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Rabat – Moroccan telecommunications operator Maroc Telecom achieved a turnover of MAD 9.1 Billion ($903 million) at the end of March, up by 2.6% compared to the same period last year.
In a communique released on Wednesday, Maroc Telecom said that it started 2023 with “good results” in terms of operations and revenue growth “despite an unfavorable international context.”
The telecommunications company attributed the positive results to its investment policy, as well as its “determination to stand out through the quality of its networks and services.”
Over the first three months of 2023, the group’s international revenues rose by 7.3% to reach MAD 4.6 billion, whereas its revenues from activities in Morocco increased by only 0.6%, reaching MAD 4.7 billion.
The group’s operating income before depreciation and amortization (EBITDA) increased by 2.6%, reaching MAD 4.6 billion. The company attributed the increase to the “favorable impact of lower Mobile termination rates in some subsidiaries and the control of operating costs.”
Maroc Telecom’s adjusted earnings before interest, taxes, and amortization (EBITA) stood at 2.8 MAD billion, up by 2.7%. Meanwhile, the group’s adjusted net income increased by 1.8% compared to the first quarter of 2022.
Read also: Maroc Telecom Fined $238 Million for Anti-Competitive Behavior
The statement noted that Maroc Telecom’s subsidiaries in Sub-Saharan Africa have been a “major” contributor to the company’s performance. Mobile Data revenues for Maroc Telecom’s Moov Africa subsidiaries increased by 27%.
“Their contribution, together with the implementation of efficient cost optimization plans, gives Maroc Telecom the necessary means for sustainable growth,” explained the statement.
To overcome the global challenges facing the telecom industry, the group said it has opted for a “proactive approach” which enables it to “quickly adapt to the constant changes in its market and to seize every opportunity.”
